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Metal prices, financing, exploration and assays are all up

Miners are responding to a rosier metal outlook by increasing spending on exploration and releasing more assay results.

Base metal prices are up. Copper bounced off its 2015 nadir of $4,500 a tonne and in the last few months has found a range of $6,600 to $6,700 a tonne, a metal price that ING says is good level to sustain investmentNickel is on a tear. It jumped to $15,340 a tonne today, its highest close since January 2015

With better metal prices miners are asking for more money. In 2017 miners sought financing totalling $39B compared to $22B in 2016 according to data from Mining Intelligence. Amounts are compiled from publicly-traded companies worldwide that declared intentions to raise funds.

The size of the ask was larger, too. The average funding request was up 25% over the past two years.

Juniors and miners are exploring.

Global mining exploration is expected to increase 15% to 20% year-over-year.

In Canada the exploration spend has grown 37% in the last two years, and total exploration spend in 2018 is forecast at $2.2B.

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Name Last Change
DOW 24580.90 0.48%
S&P 500 2753.17 0.75%
NASDAQ 7692.82 0.26%
TSX 16450.14 0.70%
TSX-V 756.24 0.00%

Resource Commodities

Name Last Change
Gold 1269.43 0.18%
Silver 16.46 0.85%
Copper 3.03 0.000
Platinum 877.99 0.000
Oil 68.58 4.43%
Natural Gas 2.94 1.02%
Uranium 22.63 1.09%
Zinc 1.37 0.00%


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